Prodigy Finance is a social enterprise that funds international students to attend the world’s top business schools, educating the global leaders of tomorrow. Through our community platform, alumni and institutional investors purchase Prodigy Finance bonds, each of which funds loans for specific class at a specific school. Investors receive 5% per annum, while supporting students at their alma maters. Meanwhile, students are able to gain access to higher education they otherwise could not afford. Since 2007, we have disbursed $47m to over 1080 students from 86 nationalities, with 99.4% repayment.
We currently focus on students attending business school abroad, with a particular emphasis on those from the developing world, who make up 75% of our loan portfolio. The vast majority of these individuals (82%) do not have access to traditional sources of funding. We believe that by filling this gap, we encourage cross-border and cross-cultural learning and understanding. The students we fund build stronger international networks that contribute to a globalizing economy.
In particular, we track the following metrics:
# and % students from developing world (defined by Dow Jones classification of frontier, emerging, or unlisted),
# and % from emerging market,
# and % of female borrowers,
average % salary increase (overall and developing world only),
average and median post-MBA salary,
# of post-MBA entrepreneurs,
# of jobs created (estimated and from entrepreneurs only),
qualitative survey responses re: career advancement.
Other Impact Measurement Tools
Within our own staff, we also track some HR and CSR metrics (annual corporate giving, leave allowance, etc). We have certain GIIRS-tracked systems in place, e.g. a whistleblower's policy, occupational health policy, etc.
Finally, we track our financials diligently, and we are annually audited. Our investment products are listed on the Irish Stock Exchange and have a regulated Prospectus.